Permitted Subsidiary definition

Permitted Subsidiary means WhiteHorse Finance (CA), LLC, a Delaware limited liability company and a wholly owned subsidiary of the Company.
Permitted Subsidiary means any subsidiary (a) that meets the then-current general criteria of Moody’s and S&P for bankruptcy remote entities and that includes, in its Constituent Documents, “special purposeprovisions substantially similar to those in the Constituent Documents of the Borrower, and (b) that is formed for the sole purpose of holding any Equity Security in one or more Persons or other assets received in a workout of a Defaulted Collateral Loan or otherwise acquired in connection with a workout of a Collateral Loan.
Permitted Subsidiary means a Subsidiary that (i) is now or hereafter becomes a Borrower or a guarantor under this Agreement, (ii) is owned, in both economic interest and voting rights, by Borrower in an amount exceeding 50%, (iii) is owned by Borrower in a proportion sufficient to allow Borrower to Control the Subsidiary, including the right to cause the Subsidiary to make lawful distributions of income, and the financial interest of Borrower therein is, in Agent's reasonable judgment, freely alienable by Borrower through a security interest granted therein or otherwise, and (iv) as to which Borrower has granted to Agent as additional security for the Loans, a first priority perfected security interest in its stock or other equity interest in the Subsidiary pursuant to documentation in form and substance acceptable to Agent and its counsel, with the validity and perfection of the security interest and other matters as Agent may reasonably require confirmed to Agent by an opinion of Borrower's outside counsel satisfactory to Agent in all respects, and with all expenses related to such documentation (including, but not limited to, filing fees and taxes and the reasonable fees and expenses of Lenders' and Agent's attorneys) to be paid by Borrower; provided, however, that Borrower need not grant a perfected security interest in its equity interest in a Non-Corporate Subsidiary in order for such Subsidiary to be a Permitted Subsidiary.

Examples of Permitted Subsidiary in a sentence

  • The Company shall not permit any of its Restricted Subsidiaries to issue any Preferred Stock (other than to the Company or to a Restricted Subsidiary of the Company) or permit any Person (other than the Company or a Restricted Subsidiary of the Company) to own any Preferred Stock of any Restricted Subsidiary of the Company, other than Permitted Subsidiary Preferred Stock.

  • The Company will not permit any of its Subsidiaries to incur any Indebtedness (other than Permitted Subsidiary Indebtedness).

  • The Company shall cause the Permitted Subsidiary to comply with all of the provisions of this paragraph.

  • For all purposes under this Indenture, any Sensitive Asset transferred to a Permitted Subsidiary shall be treated as if it were an asset owned directly by the Issuer.

  • The Holders of each Class of Notes agree, for the benefit of all Holders of each Class of Notes, not to cause the filing of a petition in bankruptcy against the Issuer, the Co-Issuer or any Permitted Subsidiary until the payment in full of the Notes and not before one year and a day, or if longer, the applicable preference period then in effect, has elapsed since such payment.

More Definitions of Permitted Subsidiary

Permitted Subsidiary means any direct and wholly-owned subsidiary of the Issuer that:
Permitted Subsidiary means any direct or indirect Wholly Owned Subsidiary of Maker that is domesticated or incorporated in a jurisdiction of the United States, Canada, the United Kingdom or a country that is a member of the European Union and is a guarantor of Maker’s obligations under the Consideration Notes.
Permitted Subsidiary. Any one or more single purpose entities that are wholly-owned by the Issuer and are established exclusively for the purpose of taking title to mortgage, real estate or any Sensitive Asset in connection, in each case, with the exercise of remedies or otherwise.
Permitted Subsidiary means any Subsidiary that (i) is a Wholly Owned Consolidated Subsidiary and (ii) complies with the requirements set forth in Section 5.04(c) or, in the case of Finance Corp., Section 5.04(b).
Permitted Subsidiary means each HPS Partnership and any wholly-owned subsidiary of the Borrower formed for the purpose of holding Collateral Assets and pledging them to the Administrative Agent as security for the Obligations and included as a “Permitted Subsidiary” herein with the consent of the Administrative Agent in its sole discretion.
Permitted Subsidiary. As defined in the Indenture.
Permitted Subsidiary means any Subsidiary (including, without limitation, a limited liability company or other entity) of the Borrower, the economic interest of which is entirely owned by the Borrower for the purpose of enabling the Borrower to buy, sell and hold any investments (including Financial Contracts) or engage in any investment transactions permitted by the Investment Policies and Restrictions in a manner that is either expected to result in lesser (or a reduced risk of greater) federal, state, local or foreign taxes, fees, charges or assessments applicable to such investments or investment transactions, the Borrower or the Borrower's shareholder than if such investments or investment transactions were made directly by the Borrower, or is otherwise expected to facilitate the ability of the Borrower to pursue (or enhance the efficiency of) such investments or investment transactions.